Turkey Regulator Demands Bank Asya Information Before Sukuks (1)

Bank Asya
Bank Asya


Date posted: April 25, 2014

ISTANBUL

Asya Katilim Bankasi AS (ASYAB), the Turkish lender in partnership talks with Qatar Islamic Bank, must ask the regulator for permission to issue further sukuk under a 1.25 billion-lira ($587 million) debt program.

Turkey’s Capital Markets Board has asked to be informed of future issues, Cengiz Onder, head of investor relations at Bank Asya, said in a phone interview today from Istanbul. An official at the board, asking not to be named under government policy, said it’s seeking further documentation from Bank Asya before sales can resume, without giving further comment.

The lender is a member of the Tuskon business group, representing companies whose executives sympathize with U.S.- based cleric Fethullah Gulen. Prime Minister Recep Tayyip Erdogan says Gulen’s followers are behind corruption allegations from December. Turkish newspaper Sabah reported today that the Capital Markets Board has stopped Bank Asya from issuing sukuk debt, without saying where it got the information.

Bank Asya has sold 550 million liras in sukuk debt in small amounts with short maturities, and the Sabah story was based on false “speculation” that it was being blocked from issuing more, Onder said. The bank’s core focus will be on attracting deposits, he said.

In the six weeks after the corruption allegations became public, Bank Asya fell more than any other company on the benchmark XU100 index. The bank’s share price then climbed the most in 6 years after news of talks with QIB emerged last month.

Source: Bloomberg , April 24, 2014


Related News

‘Nigeria Moving Towards Peaceful, Happy Future’

Notwithstanding the series of conflicts in various parts of the country, there is a high hope that Nigeria is heading towards peace and a brighter future, Initiator of Hizmet Movement and foremost Turkey-based scholar, M. Fethullah Gulen, has declared. He disclosed this in a message to the Ufuk Dialogue’s 5th Dialogue and Peace Awards Ceremony, […]

Turkey’s Curious Coup – positions of the Turkish Government, Gulen Movement and Turkey’s Western allies

Within days of the coup attempt, James Clapper, the then-Director of US National Intelligence, said that they had not seen any intelligence indicating Gülen’s involvement. Bruno Kahl, head of Germany’s BND foreign intelligence agency, said during an interview in March 2017 that he did not believe Gülen was behind the coup.

Turkish daily exposes secret plot against Gülen endorsed by gov’t

A secret national security document recently discovered by a Turkish daily has revealed that Turkey’s ruling Justice and Development Party (AK Party) government signed up to a planned crackdown on the Hizmet or Gülen movement. The Taraf daily published a document on Wednesday prepared by the National Security Council (MGK) on Aug. 25, 2004, persuading […]

Canadian rights advocate says Turkey’s post-coup crackdown amounts to genocide

Turkey’s post-coup witch-hunt of the Gulen movement followers is tantamount to genocide, Renee Vaugeois, a Canadian human rights specialist said in a recent interview.

TAA holding annual Turkic American Convention in Washington

The Turkic American Alliance (TAA), the largest national Turkic organization in the US, is holding its third annual Turkic American Convention in Washington, D.C., on March 12-13 in cooperation with the Turkish Confederation of Businessmen and Industrialists (TUSKON). Speaking at a press conference, Faruk Taban, the president of the TAA, which represents six regional federations […]

World Refugee Day Message from Fethullah Gülen

Today on World Refugee Day, I join the global community in showing support for millions of refugees around the world who were displaced due to conflict and persecution and who are going through an extremely difficult journey as a result.

Latest News

Turkish inmate jailed over alleged Gülen links dies of heart attack in prison

Message of Condemnation and Condolences for Mass Shooting at Bondi Beach, Sydney

Media executive Hidayet Karaca marks 11th year in prison over alleged links to Gülen movement

ECtHR faults Turkey for convictions of 2,420 applicants over Gülen links in follow-up to 2023 judgment

New Book Exposes Erdoğan’s “Civil Death Project” Targeting the Hizmet Movement

European Human Rights Treaty Faces Legal And Political Tests

ECtHR rejects Turkey’s appeal, clearing path for retrials in Gülen-linked cases

Erdoğan’s Civil Death Project’ : The ‘politicide’ spanning more than a decade

Fethullah Gülen’s Vision and the Purpose of Hizmet

In Case You Missed It

Who is Fethullah Gülen?

Ramadan Dinner Downtown Brings Cultures Together in Celebration

Extradition of Turkish Citizens: Moldova to pay 125,000 euros in damages for rights violations

History will record this [AK Party’s attack on Hizmet] as well

Lawyers highlight attempt to pin unsolved murders on Gülen

One wounded in armed attack on university preparation course

Interior minister fails to answer questions on plot against Hizmet

Copyright 2026 Hizmet News